Question 1
1 markWhat is the most accurate definition of economic growth?
Cambridge IGCSE · Economics (0455)
Economic growth: Practice Questions
5 multiple-choice questions marked as you go, and 1 written questions with worked solutions. All on Economic growth.
6 questions10 marksFree, no account
Question 2
1 markWhat is the primary distinction between nominal GDP and real GDP when measuring economic growth?
Question 3
1 markA government decides to reduce income tax and increase government spending on infrastructure. How is this set of policies most likely to affect economic growth and cyclical unemployment?
Question 4
1 markWhich indicator is used to measure economic growth while accounting for changes in the general price level?
Question 5
1 markA country experiences a \( 5\% \) increase in Real GDP over a year, but its population increases by \( 7\% \) over the same period. What has happened to economic wellbeing as measured by GDP per head?
Question 6
5 marksEconomic growth is a primary macroeconomic objective for most governments.
(a) Define Economic growth and identify the main indicator used to measure it.
(b) An economy is currently producing at a point inside its Production Possibility Curve (PPC). Explain the difference between economic growth caused by a movement from a point inside the curve toward the boundary, and growth caused by an outward shift of the entire PPC. Describe what might cause such an outward shift.
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